(Reuters) – On Friday, President Jair Bolsonaro fully sanctioned the Complementary Law Project 11, which changes the ICMS charge on fuel, according to information from the General Secretariat of the Presidency.
Bolsonaro has been defending for months a change in the collection of ICMS, a state tax, trying to pass much of the responsibility for the rise in fuel prices to governors, despite Petrobras following a parity rule, which makes it consider the international price of oil. and the exchange rate variation in Brazil in the initial definition of the price.
Approved by the Senate on Thursday and by the Chamber of Deputies at dawn on Friday, the bill institutes a new ICMS collection system, through a monophasia regime, including an emergency transition rule for diesel.
According to the text, the rates will be defined by the States, but they need to comply with requirements, among them that they be uniform throughout the national territory – and can be differentiated by product – and the need to be specific, by the unit of measure adopted.
Currently, recalls the statement from the General Secretariat of the Presidency, the ICMS rates vary according to the subnational entities and the ICMS calculation bases take as a parameter the price that the product presents in a sale under conditions of free competition.
The president of the Chamber, Arthur Lira (PP-AL), celebrated the sanction of the project by Bolsonaro.
“The sanction of ICMS on fuel is a victory for Brazilians and an achievement for Congress,” said Lira on her Twitter account.
“The law simplifies the levy of ICMS on fuels, brings uniformity to its collection and dilute the weight of the tax burden levied on the entire production process,” he added.
PROFIT AND SUBSIDY
This Saturday the president again criticized the profits of Petrobras, which on Thursday announced a strong readjustment of about 25% in the price of diesel and of almost 19% for gasoline in refineries.
“I have a policy of not interfering… for me, particularly speaking, it is an absurd profit that Petrobras has at an atypical moment in the world,” the president told reporters, according to media reports.
Petrobras had a record net profit of 106.7 billion reais in 2021, mainly due to the 77% increase in the price of a barrel of oil in the period and higher fuel prices.
With the invasion of Ukraine by Russia at the end of February, the international price of oil began to be even more pressured upwards.
On the possibility of adopting a fuel subsidy, Bolsonaro said, according to reports, that this goes through the Minister of Economy, Paulo Guedes.
(São Paulo newsroom)
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